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and president obama doesn't want to recognize that that problem exists. >> when you say no one is talking about defaulting on the debt, does that also include letting the debt ceiling lapse? >> well, you know, larry, what we're once again up on the debt ceiling. we have been here before, a year and half ago we were having this debate again. i supported a plan cut cap and balance that would have focused on solving the problem. but clearly we haven't sold the problem and credit card is maxed out again and president obama wants to get that money from china and send the bill to the kids. so any deal to solve this latest crisis ought to include a solution to their actual problem that got us here. >> is john boehner's role still in place? one for one for every dollar of debt increase there should be a dollar of spending reduction? >> i think you need a start with that. then you've got to actually put real programs in place that solve this problem long term. because look, if we don't solve this problem coming up in the next few weeks, we're going to be back here in another few months because president
and small business. finally, president obama, please, ease up on all the regulations. i want to talk about this because nobody should be satisfied with 2% growth. let's talk to our friend dean baker from the center for economic and policy research. welcome to both of you. all right, dean, i think 2% is way too low. i think we should be striving for something that's more than twice and that history of america. why can't we get there? >> i agree that's way too low. your policies, they tried that unity, they're back in recession or maybe they're scraping along. that's not going to do it. the story here, two issues. one, we are going to see slower growth because we have lower population growth and that's because people didn't have kids 30 years old. i don't know if you want to blame president obama for that, that's strange, but you can do so. this was a qualitatively different type of recession. he had a housing bubble, it collapsed. that was not the nature of the recession in '74, '75, '81, '82. those were easy to get out of. easy to have strong growth because the fed deliberately raised inte
with a payment plan to prioritize how to use what money the government has on hand. but i talked to several fed officials about prior debt ceiling showdowns, and they said the fed said there would be no way to proceed without money in the treasury. we'll see what president obama says in his press conference, if he ratchets up the rhetoric this morning. he's been clear he would negotiate only spending cuts, but not in context of the debt ceiling debate. simon? >> okay. >> steve, are we all agreed on what the word default means in this case? we're going to be talking about it an awful lot. >> great question, carl. it's a political question. you can default on the interest payments, and that's a sort of, i guess the technical or legal version of default. or you can default on obligations. in other words, the government incurs a debt, but doesn't pay it. that's of a different order of magnitude from defaulting on the interest payments on the debt. in general, the white house wants you to believe that default is everything. and it's a terrible, terrible thing to happen. where as i think the republic
Search Results 0 to 2 of about 3